The SIC Life Company Limited has held its maiden national sales conference in Ho aimed at motivating and rewarding efforts of salesmen and women in premium generation.
The conference brought together over 100 sales men and women, sales managers as well as branch managers across the country on the theme; “Premium mobilization, the role of the agent.”
Reverend Dr. Elizabeth Wyns-Dogbe, Managing Director, SIC Life Company Limited, said salesmen and women played crucial role in positioning the Company as a market leader and increasing the premium penetration of the entire insurance industry and impacting positively on the Gross Domestic Product (GDP) of the country.
She said the Company was determined to have a dynamic and formidable sales force endowed with professionalism, integrity, innovation, customer focused and teamwork to achieve its target.
Dr. Wyns-Dogbe lauded the efforts of the sales teams for their hard work, diligence and significant contribution to the growth of the Company, especially in 2018, meeting 96.64 per cent of its premium as well as achieving the highest profit.
Mr Justice Yaw Ofori, Commissioner, National Insurance Commission, said the life insurance market in the country was currently undergoing fierce competition with the entry of multinational life insurance companies.
He said as the regulator, the Commission had been making effort to innovate and improve the industry by issuing directives and guidelines such as market conduct rules and regulations for micro insurance and mobile insurance to ensure that an enabling environment was created to encourage novelty and development for the growth of the life insurance business.
Mr Ofori said the Commission through the Ghana Insurance College had designed an Agency Refresher Programme for existing licensed agents, which was free for the first 1,000 agents to register and Agency Certification Programme for new agents subject to renewal for existing agents and license application for new agents respectively.
He said the Commission was also running a free agency training programme aimed at training 10,000 youth to form an “agency pool” from, which insurers could select persons and educate them on their products.
Dr Archibald Yao Letsa, Volta Regional Minister, lauded the Company for strict adherence to the laid down rules, procedures and guidelines and timely payment of insurance claims.
The Minister said insurance policies including life and family policies and other smart products were necessary in helping the life of the individual in time of difficulties.